Financial literacy may not be seen as essential during your younger years but when we come to think of it, this is a huge help in guiding you to save money effectively. Being in school makes you want to spend too much on food and fun. But a student who knows the difference between a need and a want is one step closer to becoming successful in life. 



Nowadays, money has become one of the biggest concerns of a lot of people. And understanding the worth of every penny is of utmost importance. Imagine this, your parents have worked really hard and even extra hours to pay all the bills at home and even provide you with some things you may not really need. In turn, how great would it feel knowing that you have contributed to making their responsibility easy for them just because you’ve done your best to help them by saving bits of your allowances?

Keep Track of Your Expenses


In a day, there are times that you forget about how much you have in your pocket and then end up in trouble finding out that you have spent too much for already. You are not broke, you just overspent — this is what happens when you miss keeping track of your expenses.

Tracking your expenses may sound much of a hassle. But when you come to realize its worth, you’ll find out that it’s one of the most convenient and helpful ways to grow your savings as a student.

To do this, make it a habit to write down your budget for the day along with your prospected daily expenses. Then, like your own diary, update this tracker daily and place all your expenses. By the end of the week, go over your tracker and sum up all your expenses. Compare this with your budget placed and find out whether you went over it, you’re on it or you have done well by ending the week with a little extra money to save.

You don’t really need to bring with you a notebook and a pen at all times to track your expenses as there are lots of mobile tracker applications to choose from.

Be a Smart Eater


As a student, the biggest part of your spending may go to food expense. I must admit, food temptation is always around the corner and not to mention, students experience craving for sweets the most!

In order to save, think of the words, “Smart Eater”. In order to save, consider bringing in pack lunch. If not, see if your cafeteria may offer free and healthy meals! Reflect upon how much you could save in going for these meals instead of hitting the fast foods to buy your favorite burgers and soda. You do not just get to save money but also, you get to indulge yourselves more with healthier meal options. It’s as if hitting two birds with one stone, right?

Take Walks for Short Distances


Transport options are all over the place. And sometimes this would also add up to you having more expenses in a week. But if you’re place is just two blocks away, then why bother paying for transport when you can opt for short walks and even give yourself some time to sweat off and stay in shape? Not to mention, if you have friends who turn out to be neighbors as well, then you’ll get to spend more time with them for creating good memories, chatting and laughing as you walk your way home!

Embrace Student Discounts


Anywhere you go whether it be a shop or a food outlet, most of these places offer student discounts even when these are not advertised.
Take note, it is never a shame to ask for these discounts as a student because these are your privileges! Some students also take on bigger opportunities by applying for a part-time job in their favorite shops in order to take advantage of staff discounts!

As a gift, you can begin to shop smarter by using the app retailmenot to get coupons in store and online.

Look for Second-hand course books


The new semester may have just entered and it’s time to look for your upgraded course books. Buying new ones may require you to spend a lot of money, but take note, course books are not really that essential.

When needed, you always have the option to borrow set texts from the library. That way, you could spend none at all and still learn as if you had your own course book. Other students find it more convenient and cheap to go for second-hand copies online or through your university. Should you have friends in the higher year, you may always try to tap them for these matters.

Another thing that you can do is to gather all your previous books and sell them at a lesser cost for the younger years. This way, you get to earn and at the same time, use this budget to get yourself second-hand course books.

Saving is not really hard. You just gotta make yourself committed to your goal. Being a student may be so challenging and you’ll never know when you might need extra cash. Learning these few ways to save money may be very beneficial for you.

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